Binance, the cryptocurrency exchange, is laying off over 1,000 employees as it faces regulatory scrutiny and investigations in the US and other countries. The layoffs could result in Binance losing more than a third of its staff. Former employees have reported that customer-service workers were heavily affected by the cuts. The company has confirmed the layoffs but has not disclosed the exact number. Binance has been targeted by US regulators and is facing a continuing investigation by the Justice Department. The exchange recently decided to eliminate its physical presence in the US and is relocating or laying off about 150 people there.